ACIT, Circle-5(1), Hyd, Hyderabad V. Deepak Transport Agency, Hyd, Hyderabad

ITA 1318/HYD/2015

• Counselvise Citation: [2016] 133 COUNSELVISE.COM (IT) 6168 (ITAT-HYDERABAD)
• Duration Of Justice: 1 month(s) 16 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 13-01-2016
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: B
• Assessment Year: 2008-2009
• Appeal Filed On: 27-11-2015
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: M H NAIK
• Assessee Lawyers: LAXMINIVAS SHARMA
• Keywords: Tax effect

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES B : HYDERABAD BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI B. RAMAKOTAIAH, ACCOUNTANT MEMBER ITA.NO.1318/HYD/2015 ASSESSMENT YEAR 2008-2009 THE ACIT, CIRCLE 5(1), HYDERABAD. VS., M/S. DEEPAK TRANSPORT AGENCY, HYDERABAD. PAN AABFD2500K (APPELLANT) (RESPONDENT) FOR REVENUE : MR. M.H. NAIK FOR ASSESSEE : MR. LAXMI NIVAS SHARMA DATE OF HEARING : 13.01.2016 DATE OF PRONOUNCEMENT : 13.01.2016 ORDER PER SMT. P. MADHAVI DEVI, J.M. THIS IS REVENUES APPEAL FOR THE A.Y. 2008-09. IN THIS APPEAL, THE REVENUE IS AGGRIEVED BY THE ORD ER OF THE LD. CIT(A)-4, HYDERABAD DATED 11.09.2015. 2. AT THE TIME OF HEARING, THE LD. D.R, MR. M.H. NAIK, SUBMITTED THAT THE TAX EFFECT IN THIS APPEAL IS LESS THAN RS.10 LAKHS AND THEREFORE, REVENUES APPEAL IS LIABLE TO BE DISMISSED IN VIEW OF CBDT CIRCULAR NO.21/2015 DATED 10 TH DECEMBER, 2015, WHICH FACT IS CONFIRMED BY THE LD. COUNSEL FOR THE ASSESSEE, MR. LAXMI NIVAS SHARMA. 2 ITA.NO.1318/HYD/2015 M/S. DEEPAK TRANSPORT AGENCY, HYDERABAD. 3. ON PERUSAL OF THE CBDT CIRCULAR NO.21/2015 DATED 10 TH DECEMBER, 2015, WE FIND THAT THE CBDT HAS FIXED THE MONETARY LIMIT FOR FILING OF APPEALS BEFO RE THE TRIBUNAL, HONBLE HIGH COURT AND HONBLE SUPREME CO URT RESPECTIVELY. THE MONETARY LIMIT FIXED FOR FILING O F APPEAL BEFORE THE TRIBUNAL IS RS.10 LAKHS AND IT IS ALSO C LARIFIED THAT THE TAX EFFECT MEANS THE DIFFERENCE BETWEEN TH E TAX ON THE TOTAL INCOME ASSESSED AND THE TAX THAT WOULD HAVE BEEN CHARGEABLE ON SUCH TOTAL INCOME BEING REDUCED BY THE AMOUNT OF INCOME IN RESPECT OF THE ISSUES AGAIN ST WHICH, APPEAL IS INTENDED TO BE FILED AND ALSO THAT THE TAX WILL NOT INCLUDE ANY INTEREST THEREON, EXCEPT WHERE CHARGEABILITY OF INTEREST ITSELF IS IN DISPUTE. PAR A-10 OF THE INSTRUCTION ALSO CLARIFIES THAT THE INSTRUCTION WIL L APPLY RETROSPECTIVELY TO PENDING APPEALS AND APPEALS TO B E FILED HENCEFORTH IN THE HIGH COURTS/ TRIBUNAL AND HAS DI RECTED THE DEPARTMENT TO EITHER WITHDRAW OR NOT PRESS THE APPEALS BELOW THE SPECIFIED TAX LIMITS. DULY TAKING NOTE OF THE CBDT CIRCULAR NO.21/2015 DATED 10 TH DECEMBER, 2015, WE DISMISS THE APPEAL OF THE REVENUE WITH LIB ERTY TO THE REVENUE TO SEEK RECALL OF THIS ORDER IF THIS AP PEAL FALLS WITHIN ANY OF THE EXCEPTIONS PROVIDED IN THE CIRCUL AR. 4. IN THE RESULT, APPEAL OF THE REVENUE IS DISMISSED. 3 ITA.NO.1318/HYD/2015 M/S. DEEPAK TRANSPORT AGENCY, HYDERABAD. PRONOUNCED IN THE OPEN COURT ON 13.01.2016. SD/- SD/- (B. RAMAKOTAIAH) (SMT. P. MADHAVI DEVI) ACOUNTANT MEMBER JUDICIAL MEMBER HYDERABAD, DATED 13 TH JANUARY, 2016 VBP/- COPY TO 1. THE ACIT, CIRCLE - 5(1), 7 TH FLOOR, AAYAKAR BHAVAN, BASHEERBAGH, HYDERABAD. 2. M/S. DEEPAK TRANSPORT AGENCY, RAGHAVA RATNA TOWERS, CHIRAG ALI LANE, ABIDS, HYDERABAD. 3. CIT(A) - 4 , 3 RD FLOOR ANNEXE, AAYAKAR BHAVAN, BASHEERBAGH, HYDERABAD 500 004. 4. CIT - 4, HYDERABAD. 5. D.R . I.T.A.T. B BENCH, HYDERABAD. 6. GUARD FILE